Double-Take Software exercises over-allotment option
Double-Take Software in Southboro announced that the underwriters of its recently-announced initial public offering (see "Double-Take Software to sell shares") have exercised their over-allotment option.
The over-allotment option allows underwriters to purchase an additional 1,125,000 shares of common stock of the company from certain existing shareholders. Double-Take will not receive any proceeds from the sale of the shares of the selling stockholders.
The selling stockholders granted a 30-day over-allotment option to the underwriters to purchase a maximum of 1,125,000 shares of common stock at the initial public offering price, less the underwriting discount.
Double-Take Software is a provider of data protection software for Microsoft Windows applications.
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